Thomas Powell Sells 49,778 Shares of Powell Industries (NASDAQ:POWL) Stock

Powell Industries, Inc. (NASDAQ:POWL) major shareholder Thomas Powell sold 49,778 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $502.23, for a total value of $25,000,004.94. Following the completion of the transaction, the insider directly owned 598,694 shares in the company, valued at approximately $300,682,087.62. This represents a 7.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Powell Industries Stock Up 5.2%

NASDAQ:POWL traded up $26.59 during mid-day trading on Monday, hitting $542.59. 219,083 shares of the company traded hands, compared to its average volume of 276,879. The stock’s fifty day moving average price is $499.30 and its 200-day moving average price is $388.50. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 35.26, a price-to-earnings-growth ratio of 2.31 and a beta of 0.82. Powell Industries, Inc. has a one year low of $152.89 and a one year high of $612.50.

Powell Industries shares are going to split before the market opens on Monday, April 6th. The 3-1 split was recently announced. The newly created shares will be issued to shareholders after the market closes on Sunday, April 5th.

Powell Industries (NASDAQ:POWL) last posted its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $3.40 earnings per share for the quarter, topping analysts’ consensus estimates of $2.85 by $0.55. The business had revenue of $251.18 million during the quarter, compared to analyst estimates of $255.34 million. Powell Industries had a net margin of 16.82% and a return on equity of 30.64%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.86 earnings per share. Equities analysts predict that Powell Industries, Inc. will post 13.71 EPS for the current year.

Powell Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, February 18th were issued a dividend of $0.27 per share. This is a boost from Powell Industries’s previous quarterly dividend of $0.27. This represents a $1.08 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend was Wednesday, February 18th. Powell Industries’s payout ratio is 7.02%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Glj Research initiated coverage on Powell Industries in a research note on Thursday, March 5th. They issued a “hold” rating and a $450.00 price objective for the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Powell Industries in a report on Monday, December 29th. Wall Street Zen downgraded Powell Industries from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Cantor Fitzgerald increased their price objective on shares of Powell Industries from $427.00 to $481.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $427.00.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in POWL. Kovitz Investment Group Partners LLC lifted its position in shares of Powell Industries by 42.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 2,314,474 shares of the industrial products company’s stock worth $705,475,000 after buying an additional 686,588 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Powell Industries by 1,230,312.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 775,160 shares of the industrial products company’s stock valued at $247,106,000 after buying an additional 775,097 shares during the last quarter. Vanguard Group Inc. grew its holdings in Powell Industries by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 706,642 shares of the industrial products company’s stock valued at $225,263,000 after buying an additional 6,419 shares in the last quarter. First Trust Advisors LP increased its stake in Powell Industries by 65.8% in the 3rd quarter. First Trust Advisors LP now owns 615,067 shares of the industrial products company’s stock worth $187,479,000 after acquiring an additional 244,051 shares during the last quarter. Finally, State Street Corp increased its stake in Powell Industries by 0.9% in the 2nd quarter. State Street Corp now owns 352,103 shares of the industrial products company’s stock worth $74,100,000 after acquiring an additional 3,159 shares during the last quarter. Hedge funds and other institutional investors own 89.77% of the company’s stock.

Powell Industries Company Profile

Powell Industries, Inc is an industrial electrical engineering company specializing in the design, manufacture and integration of customized power control and distribution solutions. The firm’s offerings range from medium‐voltage switchgear and power control centers to bus duct, motor control centers and specialty transformers. Powell also provides automation systems, protective relaying, metering, supervisory control and data acquisition (SCADA) platforms, and turnkey engineering services to help clients manage critical power infrastructure.

Serving the oil and gas, petrochemical, refining, utility, mining and industrial sectors, Powell’s products are engineered to meet demanding performance, safety and reliability requirements.